Bingo.com, Inc. Retires Outstanding Warrant Held by Redruth Ventures Inc.; Company Cancels Warrant for 7,200,000 Shares Convertible at $0.25.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 23, 2002 Bingo.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BIGR), operator of the Internet's pre-eminent bingo portal, today announced the cancellation of the warrant held by Redruth Ventures Inc. Bingo.com gained the warrant, convertible to 7,200,000 shares at $0.25, in exchange for unsold advertising space on the Bingo.com web site to be delivered over the next eighteen months. The Company has received and cancelled the warrant. About Bingo.com, Inc. Bingo.com, Inc. operates the popular web portal See portal. www.bingo.com, offering free games This article is about Free games. For other uses, see Free games (disambiguation). Free games are video games which are free software and contain exclusively free content. Because of this they are freely distributable and often cross-platform compatible. , including multiplayer bingo, video poker Video poker is a casino game based on five-card draw poker. It is played on a computerized console which is a similar size to a slot machine. History Video poker first became commercially viable when it became economical to combine a television-like monitor with a , sweepstakes, concentration, slot machines, and more. With over 800,000 registered users and more than 800 new users everyday, www.bingo.com is one of the most recognized and most visited Bingo entertainment destinations on the web. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. |
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